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20130105
20130105
Search Results 0 to 16 of about 17 (some duplicates have been removed)
scoring the worst. >>> the battle over the debt ceiling is just beginning. that's the self-imposed government borrowing limit imposed by congress. if the limit is not raised by late february or early march, the u.s. runs the risk of defoughting on its bills. close to $1 trill is needed to cover a year of borrowing. what's president obama's strategy? brian todd has the answer to the trillion-dollar question. >>. >> reporter: the president says he won't negotiate with congress over lifting the debt ceiling. >> i will not play that game. >> reporter: republicans say -- >> the president may not want to have this debate, but it's the one he's going to have, because the country needs it. >> reporter: so while they debate over a debate and raise head-long into the dead ceiling, is there a magic bullet to solve the crisis? try a magic coin. some economists, legal scholars and now even a congressman, are suggesting a $1 trillion platinum coin could be minted and the government could use that to pay the debt, avoid default and preempt the debt kreeg crisis. democratic congressman ger
the debt ceiling are expected to get as intense if not worse. the debt ceiling is the legal limit on the nation's borrowing. in his weekly address the president says he is taking a hard line on the issue. >> one thing i will not compromise over is whether or not congress should pay the tab for a bill they've already racked up. if congress refuses to give the united states the ability to pay its bills on time the consequences for the entire global economy could be catastrophic. last time congress threatened this course of action our entire economy suffered for it. our families and our businesses cannot afford that dangerous game again. >>> as you would expect, republicans are also drawing a line despite approving the fiscal cliff compromise. gop lawmakers say it was missing something monumental, long-term spending cuts. here is a clip of their weekly address. >> the simple truth is that we are in this fiscal mess because washington takes too much of your money and then wastes it. that's the real problem. it needs a real solution. we have to make sure washington is accountable for e
months, as the government reaches its debt ceiling and can't borrow any more money. president obama wants to lift that ceiling. the republicans don't. and it appears we're heading for another "thelma and louise" ride to the edge. remember -- they went over. we'll discuss that possibility next week with paul krugman, the nobel laureate in economics and "new york times" columnist whose bestselling book, "end this depression now!" calls for full employment as an alternative to austerity. read it, then send us the question you would like me to put to paul krugman. meanwhile, another reality beckons and there's a menace more threatening than the fiscal cliff ever was. what should really be scaring the daylights out of us -- the crisis which could make all the others irrelevant -- is global warming. get this one wrong and it's over -- not just for the usa, but for planet earth. that's the message delivered by hurricane sandy, and by almost all the extreme weather of the past two years. and here in the first month of the new year, it's the message from the most informed scientists in the world.
the borrowing authority like the debt ceiling, if you will, for the flood insurance program. very few people are opposed to that because the people have already paid their premiums, and they should collect. but now we're talking about the actual money that would be used to rebuild the shore, and i'm very concerned about that, and i don't think it should have been divided up. and, you know, you have basically these tea party republicans that don't want to spend any money. >> so why, though, do you need the $51 billion? so fema, right, has given $1.2 billion about in assistance after sandy, half a billion of that in new jersey. appropriations chairman hal rogers says fema has plenty of money. there's no immediate need. you know, fema is saying, look, we're okay. >> that money, erin, is just for the emergency. in other words, that was to help people, you know, pay for a motel, you know, for food and clothing in the few weeks after the storm. the rest of the money, the $60 billion package, is for rebuilding. in other words, this is -- you know, this will give the sva money to give out loans to b
and the need to raise the debt ceiling, more money can be borrowed. >> the last time they couldn't get the debt ceiling under, that's where we got to the fiscal cliff, right? >> that's right. that big fight over raising the debt ceiling. remember, the danger -- this is one reason the president wanted the first deal, the thing he's really thinking about when he says i am not negotiating, i'm not letting this in negotiations, raising the debt ceiling, he doesn't want the worlds destabilized. he wants to get the united states' fiscal house in order. he doesn't want a fight. historically this has not been a big fight. if the republicans hold his ground and the president holds his ground, the fight we had over the fiscal cliff will look like child's play compared to this battle. >> john boehner re-elected speaker of the house this week but not without republican defections. if there are winners and losers -- hate using that term because it seems that everything is about winning and losing. but it there are winners and losers, did boehner come out roughed up? >> he's a little roughed up. there was to
two months before they raised the debt ceiling on risk. the president says the debt limit needs to rise. republicans say the president isn't willing to cut spending he will get a debate whether he likes it or not. some are proposing using one trillion dollars to pay this year's budget deficit. those against the coin idea... mike quickly snagged an influential assignment in the new congress. he will be the only member from illinois to serve on that panel. in an attempt to reach a compromise on pension reform in illinois willing to back off a proposal that will shift pension costs for suburban in downstate teachers. quinn says that he hopes madigan ships on who pays the pension costs will lead to a breakthrough on a pension reform. quentin and legislative leaders are scheduled to meet tomorrow afternoon to discuss pension reform it's believed it's sometimes easier to pass it difficult legislation in this waiting days of the session. the head of chicago immunizations will talk to us on how it looks so far. a pilot arrested moments before his plane was supposed to take off what poli
. that of course takes raising the nation's debt ceiling. here is the president in his weekly internet address. >> as i said earlier this week, one thing i will not compromise over is whether or not congress should pay the tab for a bill they've already racked up. if congress to give the united states the ability to pay its bills on time, the consequences for the entire global economy could be catastrophic, last time congress threatened this course of action our entire economy suffered for it and our families businesses cannot afford that dangerous game again. >> jamie: that argument isn't sitting well with some members of the g.o.p. who say the real danger would be allowing the country to take on more debt than it can michigan congressman dave camp delivered the republican message. >> many of our democratic colleagues don't seem to get it. throughout the fiscal cliff discussion, the democrats and president who control washington repeatedly refused to take am i meaningful steps to make washington live within its means. that position is irresponsible and failed to acknowledge what every family
the debt ceiling fight so if you use that as the basis to borrow the new to say you are solvent. anybody with the iq above broccoli should understand if you minted a clean that is utterly worthless other than you say so and that is the basis to borrow money, the only people crazier are those who let america barr wrote off the point*. gerri: people will stop believing your promises. not only the american people what to give them down the road. >> the government cannot just keep giving things i wish we would replay this speech by president kennedy. he is a democrat but he clearly said as part of the vision ask not what to your country can do for you but what you can do for your country. we need to raise americans to believe their responsibility is what they can do for their country. not sit and see what can my country do for me? gerri: governor cut to me it is a pleasure. you can hear much more by tuning in to his show weekend's 8:00 p.m. eastern on fox news. more on the jobs report coming up. the new congress passes a bill approving $10 billion of aid for superstar sandy that is the first
confrontations over the debt ceiling are expected to get as intense if not worse. the debt ceiling is the legal limit on the nation's borrowing. in his weekly address, the president says he is taking a hard line on the issue. >> one thing i will not compromise over is whether or not congress should pay the tab for the bill they've already racked up. if congress refuses to give the united states the ability to pay its bills on time, the consequences for the entire global economy could be catastrophic. last time congress threatened this course of action, our entire economy suffered for it. our families and our businesses cannot afford that dangerous game again. >> as you would expect, republicans are also drawing a line despite approving the fiscal cliff compromise. gop lawmakers say it was missing something monumental -- long-term spending cuts. here's a clip of their weekly address. >> the simple truth is that we are in this fiscal mess because washington takes too much of your money and then waists it -- then wastes it. that's the real problem and needs a real solution. we have to make sure wa
bonds. the debt ceiling law was established to give the u.s. treasury the flexibility to borrow money without going to congress to get approval every time a bill was passed. it had absolutely nothing to do with spending control or debt control. it was a technicality. most functioning countries don't have any such thing because they understand that if the government spends the money it has to pay the bills. republicans seem to think the debt creeling is is a good tool to limit how much the government spends. the current debt ceiling was officially hit on december 31st, but like last time the u.s. treasury is using extraordinary measures to get it through. and sometime about late february or early march, they might. if congress doesn't act by then, the government risks not being able to pay some of its bills. now, as if that's not enough, by march 1st we could be heading off the sequester cliff. that's because the fiscal cliff deal that passed last week put off what to do with government spending for two months. blanket cuts are still mandated by law to take effect unless both parties c
ceiling is the legal limit on the nation's borrowing. in his weekly address, the president says that he is taking a hard line on the issue. listen. >> one thing i will not compromise over is whether or not congress should pay the tab for a bill they've already racked up. if they refuse to give the united states the ability to pay their bills on time, the consequences for the entire global economy could be catastrophic. the last time congress threatened this action, our entire economy suffered for it. our families and our businesses cannot afford that dangerous game again. >> as you would expect, republicans are also drawing a line despite approving the fiscal cliff compromise it, gop lawmakers say the deal was missing long-term spending cuts. >> the simple truth is that we are in this fiscal mess because washington takes too much of your money and then wastes it. that's the real problem. and it needs a real solution. we have to make sure washington is accountable for every tax dollar it spends. we have to make sure that your money is spent efficiently and effectively. >> so here's the q
Search Results 0 to 16 of about 17 (some duplicates have been removed)

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